According to the latest edition of Mutually Yours, the digital news service provided by the Association of Financial Mutuals (AFM), members of AFM saw their premium income soar to over GBP 1 billion during 2017. This, says the AFM, is an increase of over GBP 100 million in the year or an increase of 12.2%. The article shared in Mutually Yours shows this result to be all the more impressive when compared to the UK market as a whole which, according to Swiss Re, saw growth of just 2.4%.
Data from the AFM shared in the article shows growth in life and savings premiums over the year of 18.9%, whereas general insurance premiums rose 9.6%, and health and protection was up 11%. By contrast, says the AFM, the market as a whole rose 2% in life and 3.1% in non-life.
This means that, at the end of 2017, the share of AFM members’ premiums was:
- 54% health and protection
- 24% general
- 22% life and savings
Other articles in this edition of Mutually Yours include:
- Communication from the AFM C-Suite
- AFM Annual Conference is fast approaching!
- Five reasons why the time is right for Customer Centric Marketing
- Latest AFM Member statistics
- AFM’s new Associate Members
- News from our Members
- Events and training
- And the winner is…
Two of the main articles contained in the AFM August 2018 newsletter can also be accessed below:
Five reasons why the time is right for Customer Centric Marketing: With up to 10 times more profit than less tailored communications, maybe now is the time to take a closer look at Customer Centric Marketing. Read on here
AFM Member Key Statistics: Members of AFM saw their premium income during 2017 soar to over £1 billion, an increase of over £100 million in the year. That represents an increase of 12.2%, which is all the more impressive when compared to the UK market as a whole, which according to Swiss Re saw growth of just 2.4%. For more data, click here